U.S. HOTELS SAW double-digit declines in all performance metrics in March, according to STR. March was the first full month impacted by the COVID-19 pandemic and its ensuing economic downturn.
Occupancy declined 42.3 percent to 39.4 percent during the month. ADR fell 16.5 percent to $110.66 and RevPAR went down 51.9 percent to $43.54.
San Francisco/San Mateo, California, experienced the steepest drop in occupancy, dropping 62.2 percent to 30.2 percent, resulting in the largest decrease in RevPAR, down 72.3 percent to $55.42, and one of the largest declines in ADR, dipping 26.6 percent to $183.68.
New Orleans tied for the other steepest decrease in ADR, declining 26.6 percent to $134.98.
“STR continues to monitor the COVID-19 impact on global hotel performance,” the company said.
Despite the drop in business, the U.S. hotel construction pipeline also hit a record high in March, STR reported previously. There were 214,704 rooms under construction, the highest end-of-month total ever reported.